Chicago region mfr’g bounces back, Japan likely helped
In sharp contrast to the NY, Philly and Dallas Fed surveys, the Chicago PMI at 61.1 was well above expectations of 54 and up from 56.6 in...
Greece Is a Kleptocracy
Charles Hugh Smith publishes Foreclosure Crisis Weekly, dedicated to documenting the often-amazing foreclosure crisis. ~~~ Strip away the...
Germans support the ‘we have no choice debt rollover’
The Germans are coming around in supporting the French for the ‘we have no choice Greek debt rollover.’ It’s...
First, Blame the Lenders
I’ve noticed something intriguing about the debate regarding the Greek default/restructuring/bailout: There is a familiar odor to...
Why Europe Can’t Afford a Greek Haircut
If a picture is worth a thousand words, the following chart from the IMF encapsulates all the analysis one needs to understand why Mr....
10 Spot: Thursday Morning Reads
This is what I am reading this morning: • Martin Wolf: Why austerity alone risks a disaster (FT) • Threat of $100bn hit if US top...
Fade the Inflation Hysteria: Gipper Edition
As I believe there is a tremendous amount of revisionist history going on surrounding the Reagan era as it relates to economic and fiscal...
Bank of America’s Big Settlement
Bank of America has agreed to set aside $14 billion to settle claims stemming from sales of mortgage-backed securities. Nelson D....
Epic Too Big To Fail Infographic!
I tweeted this yesterday, but its too good not to post: From the Credit Blog comes this epic infoporn on TBTF. Below is only the...
Not the Greeks, But Their Creditors Get Bailed Out
Ahhh, the Greeks! Long considered the cradle of Western civilization, Greece is the birthplace of democracy, the founders of Western...